CNBC Business News Update - Market Morning: Stocks Lower, Investors Watch As Government Shutdown Looms, Gold Hits Record Intraday High of $3,899 An Ounce 9/30/25

Episode Date: September 30, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Ettinger, CNBC. Wall Street modestly in the red out of the gate this morning. Investors are watching to see if the government runs out of money tonight and shuts down at midnight Eastern. It's the final day of September trading, too, and stocks are on pace for a winning month. The Dow right now down 26 points, being led lower by shares of Chevron, which are down just about 1%. The S&P 500 indexed down 11 points. the NASDAQ down 56 points. And video shares are in the green this morning. They're up four-tenths of 1%.

CNBC's Steve Sedgwick in London. Has this take on the markets in the US as September wraps up? The finest work from the artist, known as Shaggy, it wasn't me. It's a fine song ignoring it. No, it wasn't me. No, I didn't do that. And I kind of feel like the markets a little bit like that at the moment. Bear with me.

Trade. Nah, not worried about that. War. No, I'm not worried about that. Interest rates and the independence of the Fed? No, I'm not worried about that. The fiscal position of the United States over the medium to long term. No, I'm genuinely not worried.

Really not. Shut down. No, don't be silly, because I'm not worried about that. Valuations, now I'm not worried. So in the same way that the great artist, known as Shaggy, said, it wasn't me. In the face of facts across the board, the market is going from record to record. And it's saying, I don't care about that. Why should I care about that?

I don't care about that. And it's not Goldilogs, it's completely blinkered. because we haven't had a meaningful sell-off since early April. Now, I'm not saying the market isn't great value. I'm not saying these aren't great companies. I'm not trying to create a bare case. I'm trying to point out that historically, corrections are useful. Corrections are good for the market rally.

CNBC's Steve Sedgwick. Gold briefly hit a new intraday all-time high today. $3,89 announced gold is up 9% so far for September. on pace for its best months since March. President Trump has announced new tariffs on lumber imports. Much of the lumber comes from Canada as home builders and would be new construction home buyers in the end would pay more. Tariffs on imported cabinets and furniture have been ramped up to 25%.

The insurance industry is watching as North and South Carolina are under states of emergency today. Hurricanes in the Atlantic are not forecast to directly hit. the U.S., but they have the potential to cause some serious flooding and damage in some areas. J.P. Morgan, moving into the next phase of its AI strategy to become the world's first and biggest AI powered bank. So we got the first demonstration that any outsider has seen of L.I.M. Suite, which is basically their portal that connects LOMs from folks like OpenAI and Anthropic and connects it with all their enterprise data and applications. And so prompt, hey, I'm an investment banker, J.P. Morgan

Chase. Create an investment banking pitch. for NVIDIA. And in about 30 seconds, it produced a credible looking deck or pitchbook that would normally take a fleet of junior bankers all night to do. And so that was a pretty interesting eye-opening example. CNBC's Hugh Sun. Amazon Hertz is enhancing its HertzCarsales.com website, allowing customers to do nearly all of the car buying process online. The company has more than a half million cars in its fleet and offloads about half every year. year and previously customers could look at cars for sale online, but then they had to go in person to retail locations to buy. Colleges and universities in the U.S. are on the verge of

cutting jobs, merging with other schools and even closing fewer high school graduates who are enrolling in college, and foreign students have been opting for educations in other parts of the world, leaving large holes in college operating budgets. Retro Diet Coke lime will be in stores next Monday as Coca-Cola brings back a fan favorite flavor for the first time in seven years. Jessica Eddinger, CNBC. We have concerns with lots of American companies that come on. Squat and Box, that do business with China. You should be concerned with the companies that don't come on.

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